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Podcast: Monetary Matters with Jack Farley
Episode: Fed Governor Miran: The Case For Big Rate Cuts | Miran on Deterioration in Labor Market, the Neutral Rate of Interest, and Fed Balance Sheet Policy
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Stephen Miran, member of the Federal Reserve Board of Governors, has dissented in two consecutive Fed FOMC meetings since his joining the Board in September 2025, preferring to cut by 50 basis points (0.50%) instead of 25 basis points (0.25%). Governor Miran joins Monetary Matters today to explain in detail his reasoning for why he thinks considerably lower interest rates are appropriate. Tariffs, fiscal policy, immigration, weakening labor market. Recorded on November 4, 2025.Â
Governor Miran’s speech on September 22, 2025, “Nonmonetary Force...